On Determinants Of The Economic Growth Of European Countries During 2005–2015

• Authors: Jiří Mazurek

Title variants

O determinantach wzrostu ekonomicznego krajów europejskich w latach 2005–2015

• Languages of publication: EN

Abstracts

EN

The aim of the paper is to examine the economic growth of 32 European countries from 2005 to 2015. This period was characterized by a strong growth prior to 2009, when the Great Recession started, and lasted until 2012–2013 in the majority of examined countries. The growth between 2005 and 2015 was studied with regard to six selected socio-economic factors: initial level of the gross domestic product, economic openness, democracy index, human capital, physical capital, and foreign direct investments. The main result is that the growth was directly proportional to human and physical capital, and indirectly proportional to the initial level of GDP and the democracy index. Furthermore, cluster analysis showed that the historical division of Europe into “West” and “East” still persists to a considerable extent.

PL

Celem pracy jest analiza wzrostu gospodarczego 32 krajów europejskich w latach 2005–2015. Okres ten charakteryzował się silnym wzrostem przed rokiem 2009, kiedy to rozpoczęła się Wielka Recesja i trwała do 2012–2013 r. w większości badanych krajów. Wzrost w latach 2005 i 2015 badano w odniesieniu do sześciu wybranych czynników społeczno-ekonomicznych: początkowy poziom PKB, otwartość gospodarcza, wskaźnik demokracji, kapitał ludzki, kapitał fizyczny i bezpośrednie inwestycje zagraniczne. Głównym wnioskiem jest to, że wzrost ten był wprost proporcjonalny do kapitału ludzkiego i fizycznego, i odwrotnie proporcjonalny do początkowego poziomu PKB i wskaźnika demokracji. Ponadto, analiza skupień wykazała, iż historyczny podział Europy na „Zachód” i „Wschód” nadal utrzymuje się w znacznym stopniu.

Keywords

EN

economic growth; economic openness; democracy index; human capital; physical capital

PL

wzrost gospodarczy; otwartość gospodarcza; indeks demokracji; kapitał ludzki; kapitał fizyczny; wzrost gospodarczy; otwartość gospodarcza; indeks demokracji; kapitał ludzki; kapitał fizyczny

• Publisher: Uniwersytet Łódzki. Wydawnictwo Uniwersytetu Łódzkiego
• Journal: Comparative Economic Research. Central and Eastern Europe
• Year: 2017
• Volume: 20
• Issue: 2
• Pages: 21-33

Dates

published

2017-06-30

Contributors

author

Jiří Mazurek

• Silesian University in Opava, School of Business Administration in Karviná, Department of Informatics and Mathematics

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Identifiers

DOI

10.1515/cer-2017-0010